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We have been taking a much needed rest - now we are back with the levels and plan for tomorrow.

Today was a beautiful day, marked by a 0.5% increase on lower volume, propelling the SPX to fresh all-time highs. The market showcased resilience and strength, despite the reduced trading volume. The SPX reached a high of 6304.69 and a low of 6262.27, indicating a range that traders were able to navigate and capitalize on. $SPY ( ▼ 0.07% )  $ES_F ( 0.0% )  $SPX ( ▼ 0.01% )  

Now that we've reached fresh highs, what does this mean moving forward? Will we continue to push higher & where must we hold to prevent a pullback?

More in the trade plan below.

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Below, we’ll cover the actionable levels, how we played them today and what they mean for the next session.

We didn’t have levels for today’s session - but remember…Always trust the levels.

Now we are sitting in AH right on the key 6300 support level. What does this mean and where do we go from here? Read below for our trade plan which includes actionable support & resistance levels, outlook for the next session and today’s trade recap.

Learn the system to make 1-3 low risk, high reward trades per day using SPY/SPX options.

If you are enjoying this letter, consider sharing with a friend! We even have a referral program where you can earn free subscription time for referring others that sign up for a paid subscription.

Don’t miss the Topic Directory - Getting lots of questions that are answered in here.

There seems to be some confusion as to the premium subscription and the discord chat. If you are premium and you do not have access to the “Premium Members Only” channels including “members-only” please authenticate yourself in the “bot-request-premium” chat. Or send me a DM in the discord!

Also - if you missed it - join our chat during market hours for premium subscribers. We are now leveraging discord for this. Link is at the very bottom of premium content: Trading Plan section below.

Trading Plan

Looking ahead, tomorrow is set to be eventful with key economic indicators on the horizon. We have options expiration, consumer sentiment data, and inflation expectations all scheduled for release. Additionally, it marks day 2 of the G20 meetings, which could potentially influence market sentiment and volatility.

As we approach these events, it’s crucial for traders to remain vigilant and prepared for potential market movements stemming from these releases. Be sure to monitor any announcements that may arise from the G20 meetings as they could have significant implications for the markets moving forward.

I am receiving some great questions from beginners. This is helping us develop guides for this group as well as the course. More to come but we’ve created a separate channel in the discord just so you can not be shy about bringing those questions to the group. No question is dumb, we grow stronger together!

In fact, we’ve created this single resource as a guide. It is a living document and we will continue updating it. You must be logged into the site to read it:

https://letter.spyoptionsactionablelevels.com/p/strategy-guide-the-basics

As readers know trading after a massive move in either direction is risky.

Trying to predict when trend will break is a fool’s game because the trend can be stronger than you ever realize.

Going with the trend is hard because it has already run so far (or dropped) and move may be close to over.

All you can do is pick your entries carefully and with proper position sizing. Trading out 1-3 DTE or further also helps soften the blow.

Yes it will decrease the amount of profit but will greatly help keep you in a trade long enough to see return.

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